2006 Code of Virginia § 13.1-746.2 - Court proceedings
13.1-746.2. Court proceedings.
A. A dissolved corporation that has published a notice under 13.1-746.1 mayfile an application with the circuit court of the city or county where thedissolved corporation's principal office, or, if none in the Commonwealth,its registered office, is or was last located for a determination of theamount and form of security to be provided for payment of claims that arecontingent or have not been made known to the dissolved corporation or thatare based on an event occurring after the effective date of dissolution butthat, based on the facts known to the dissolved corporation, are reasonablyestimated to arise after the effective date of dissolution. Provision neednot be made for any claim that is or is reasonably anticipated to be barredunder subsection C of 13.1-746.1.
B. Within 10 days after the filing of the application, notice of theproceeding shall be given by the dissolved corporation to each claimantholding a contingent claim whose contingent claim is shown on the records ofthe dissolved corporation.
C. The court may appoint a guardian ad litem to represent all claimants whoseidentities are unknown in any proceeding brought under this section. Thereasonable fees and expenses of such guardian, including all reasonableexpert witness fees, shall be paid by the dissolved corporation.
D. Provision by the dissolved corporation for security in the amount and theform ordered by the court under subsection A shall satisfy the dissolvedcorporation's obligations with respect to claims that do not meet thedefinition of a claim in subsection D of 13.1-746, and such claims may notbe enforced against a shareholder who received assets in liquidation.
(2005, c. 765.)
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